Safin signs preliminary agreement on Dunaferr takeover
Safin GmbH, a Kazakh-owned industrial company headquartered in Vienna, has signed a preliminary agreement on taking over the operation of Hungarian steel maker Dunaferr, the latter's chief counsel Péter Nagy said at a press conference, according to azuzlet.hu.
Nagy said Safin, which supplies Dunaferr with much of its feedstock "has been operating the company since September" but would elevate that partnership to the next level with the preliminary agreement.
He added that the final form of the agreement is still being drafted. Dunaferr said on March 17 that it had signed an agreement with an investor, but did not reveal the party.
Nagy said Safin has been helping Dunaferr to sell the products it makes with Safin's feedstock, then the companies split the revenue.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.